GT3 Insurance Question
03-14-2018, 09:49 PM
#46
Racer
Ah I just checked my notes, it was Progressive - sorry for Fake News there, but perhaps Flo has spoken to AP and knows that there is a "911 Carrera GT3" in the works.
03-14-2018, 09:55 PM
#47
Originally Posted by shapiroeric
So a $149,999 MSRP is $1000 a year and $150,001 MSRP is $5000?....that makes zero sense
03-14-2018, 10:51 PM
#48
Will Geico do OEM parts no shortcuts, etc..? This is more critical for me than the cost of the premium. Going to call and shop around soon
03-14-2018, 10:58 PM
#49
Confirmed with Liberty Mutual OEM Porshe parts is an add on part of the policy for 30$ a year extra. My agent explained Liberty does not have a parts contract with PAG, hence the add on for a very minor cost. I'm grateful this was pointed out my this forum as I was unaware.
03-14-2018, 11:06 PM
#50
Drifting
I have had Amica for years. It is consistently rated one of the top insurance companies in terms of customer satisfaction. I do think Amica's premiums tend to be a little higher than the competition but this is a case where you get what you pay for. Incredible customer service. I have had 3 incidents with car damage and I have been very impressed with Amica's availability, thoroughness and the quality of the work done on my car (at Caliber Collision here in LA). They also went to bat for me when the woman who illegally turned left in front of me tried to claim it was my fault. I have them for home, auto, and umbrella. A++
03-14-2018, 11:44 PM
#51
Advanced
I’ve been on the other end of an Amica claim, where one of their insured ran a stop sign and totaled my car. Amica’s claims department was an absolute class act, and treated me like royalty even though I wasn’t their customer.
In their claims handler’s words: “we make money by insuring good drivers and great people, not by stiffing people on insurance claims.” I like that approach and, in my personal experience, they sure walked the walk.
In their claims handler’s words: “we make money by insuring good drivers and great people, not by stiffing people on insurance claims.” I like that approach and, in my personal experience, they sure walked the walk.
03-15-2018, 01:59 AM
#52
Drifting
Thread Starter
Confirmed with Liberty Mutual OEM Porshe parts is an add on part of the policy for 30$ a year extra. My agent explained Liberty does not have a parts contract with PAG, hence the add on for a very minor cost. I'm grateful this was pointed out my this forum as I was unaware.
I have had Amica for years. It is consistently rated one of the top insurance companies in terms of customer satisfaction. I do think Amica's premiums tend to be a little higher than the competition but this is a case where you get what you pay for. Incredible customer service. I have had 3 incidents with car damage and I have been very impressed with Amica's availability, thoroughness and the quality of the work done on my car (at Caliber Collision here in LA). They also went to bat for me when the woman who illegally turned left in front of me tried to claim it was my fault. I have them for home, auto, and umbrella. A++
I’ve been on the other end of an Amica claim, where one of their insured ran a stop sign and totaled my car. Amica’s claims department was an absolute class act, and treated me like royalty even though I wasn’t their customer.
In their claims handler’s words: “we make money by insuring good drivers and great people, not by stiffing people on insurance claims.” I like that approach and, in my personal experience, they sure walked the walk.
In their claims handler’s words: “we make money by insuring good drivers and great people, not by stiffing people on insurance claims.” I like that approach and, in my personal experience, they sure walked the walk.
03-15-2018, 05:34 AM
#54
Originally Posted by FourT6and2
Yeah, cash/market value. Nobody does actual "agreed value" except those specialty companies like Hagerty and Grundy and classic car companies. And you need to have a dedicated daily driver on a separate policy to be eligible, which I don't. I live in a city so I walk everywhere. The GT3 is a weekend fun car. So I have to stick to the regular insurance companies.
03-15-2018, 01:01 PM
#55
Burning Brakes
I insure cars in CA (San Jose) and WA (Bainbridge Island) and about the same. Own my home, no tickets, 1 hit and run last year and 53years old.
Per year $100/$500 deductibles
AMG 2015 E63s wagon San Jose = $1932 <<<>>>> AMG 2016 E63s wagon Bainbridge Island= $1816
AMG 2017 GTs San Jose = $1916 <<<>>>> Porsche 2015 GT3 Have not paid yet
but quoted around $1900
Per year $100/$500 deductibles
AMG 2015 E63s wagon San Jose = $1932 <<<>>>> AMG 2016 E63s wagon Bainbridge Island= $1816
AMG 2017 GTs San Jose = $1916 <<<>>>> Porsche 2015 GT3 Have not paid yet
but quoted around $1900
03-15-2018, 01:38 PM
#56
Drifting
Thread Starter
I can only speak for California, but after reading this I just called Travelers. First, I confirmed with them that they DO NOT offer Agreed Value. It is Actual Cash Value. I asked 3 times. And spoke to their claims department. I would look back at the fine print in your policy to double check you're actually getting Agreed Value. And not "stated value" with a "whichever is less clause". Second, their rate was the highest yet. $640/month. No way lol
03-15-2018, 02:36 PM
#57
What state are you in? It matters.
I can only speak for California, but after reading this I just called Travelers. First, I confirmed with them that they DO NOT offer Agreed Value. It is Actual Cash Value. I asked 3 times. And spoke to their claims department. I would look back at the fine print in your policy to double check you're actually getting Agreed Value. And not "stated value" with a "whichever is less clause". Second, their rate was the highest yet. $640/month. No way lol
I can only speak for California, but after reading this I just called Travelers. First, I confirmed with them that they DO NOT offer Agreed Value. It is Actual Cash Value. I asked 3 times. And spoke to their claims department. I would look back at the fine print in your policy to double check you're actually getting Agreed Value. And not "stated value" with a "whichever is less clause". Second, their rate was the highest yet. $640/month. No way lol
I have Travelers for all my vehicles....after doing some inquiries for a possible new purchase I will likely move to Grundy as they are agreed value.....The RS costs me $2500 a year and Grundy is $1900.....the 458 is only $900 with Travelers but $1500 with Grundy....so those are both a wash.....the kicker is I was quoted $6500 (Yikes!) for a 2017 Ferrari Lusso ($300K value).....Grundy was $2500....it's obvious Travelers does not like to insure the high end cars, hence the huge Premium....I would love to move all to Grundy (MVP program) but they won't insure daily drivers in Mass anymore.....it's crazy
Bottom line Grundy is Agreed Value and obviously much different than Actual Cash Value....
03-15-2018, 02:53 PM
#58
Drifting
Thread Starter
You are correct and I assumed wrong....my agent also did not use the correct terminology either as I have emails that says "Agreed Value" of $225,000 for the Porsche and my policy, which I just checked, states "Actual Cash Value".....obviously big difference
I have Travelers for all my vehicles....after doing some inquiries for a possible new purchase I will likely move to Grundy as they are agreed value.....The RS costs me $2500 a year and Grundy is $1900.....the 458 is only $900 with Travelers but $1500 with Grundy....so those are both a wash.....the kicker is I was quoted $6500 (Yikes!) for a 2017 Ferrari Lusso ($300K value).....Grundy was $2500....it's obvious Travelers does not like to insure the high end cars, hence the huge Premium....I would love to move all to Grundy (MVP program) but they won't insure daily drivers in Mass anymore.....it's crazy
Bottom line Grundy is Agreed Value and obviously much different than Actual Cash Value....
I have Travelers for all my vehicles....after doing some inquiries for a possible new purchase I will likely move to Grundy as they are agreed value.....The RS costs me $2500 a year and Grundy is $1900.....the 458 is only $900 with Travelers but $1500 with Grundy....so those are both a wash.....the kicker is I was quoted $6500 (Yikes!) for a 2017 Ferrari Lusso ($300K value).....Grundy was $2500....it's obvious Travelers does not like to insure the high end cars, hence the huge Premium....I would love to move all to Grundy (MVP program) but they won't insure daily drivers in Mass anymore.....it's crazy
Bottom line Grundy is Agreed Value and obviously much different than Actual Cash Value....
03-15-2018, 04:05 PM
#59
Yeah, cash/market value. Nobody does actual "agreed value" except those specialty companies like Hagerty and Grundy and classic car companies. And you need to have a dedicated daily driver on a separate policy to be eligible, which I don't. I live in a city so I walk everywhere. The GT3 is a weekend fun car. So I have to stick to the regular insurance companies.
Geico and a lot of other companies cap liability at 500k. You don’t want low coverage like that.
03-15-2018, 04:39 PM
#60
Drifting
Thread Starter
Chubb does not cover new cars. Car must be at least 30 years old. I will try the other Chubb agency, looks like they have two.